First posting ever

[Buddy Love]

I have read several threads and I feel like I am amongst like minded people with the ability to delay gratification for a longer term perspective.

I am honored to be apart and hope that I can add some value but I fear I am a net taker of information

 

[Ready]

Well...welcome to the forum, and if you ever feel so inspired to share some of your own life experiences, please feel free to do so!

 

[Gumby]

I have read several threads and I feel like I am amongst like minded people with the ability to delay gratification for a longer term perspective.

I am honored to be apart and hope that I can add some value but I fear I am a net taker of information

Welcome, Buddy. We're glad you joined. Never fear - there will almost certainly come a post where your expertise and experience will be a precise fit and you'll be able to educate us. Everyone has a part to play here.

 

[Major Tom]

No worries, Buddy Love. I have over 1500 posts under my belt and still have contributed little of interest

Welcome to the forum!

 

[Buddy Love]

Thanks for the reply...This is so strange for me to talk about my self and money. Other than my wife and my planner from Morgan I have been pretty tight lipped about money.

I plan on working another 5 years and then punching out. One of my many problems is I have no idea what I will do in retirement. I enjoy work, save a healthy precent and like learning about expense reduction and investment ideas

 

[Buddy Love]

No worries, Buddy Love. I have over 1500 posts under my belt and still have contributed little of interest

Welcome to the forum!

Major, I read through some of your posts...clearly you under sell your value add !

 

[brewer12345]

my planner from Morgan

Um, have you figured out how much this is costing you?

 

[Buddy Love]

Um, have you figured out how much this is costing you?

I like the question...thanks. I ask for returns pre and post fees but here is how I think about it and I would be curious to get your thoughts.

He manages ~10% of my portfolio including 50% of the 401k I have turned over and a few structured notes. Looking at it that way the fees are high. However 1. He balances my allocations across all of my investments, ie the entire 100% of assets
2. He runs an annual plan for me
3. And I can not stress this enough...when he talks to my wife to save money, she believes him...that alone is worth the delta. I banged my head against the wall for years. She never belived me

 

[brewer12345]

Up to you in the end. You are paying the fees, so you get to decide if it is worth it. IMO, there are two problems with this sort of arrangement. First, the fees mount up quickly. Structured notes? Holy crap.

Second, by using someone else who will never have your best interests at heart to manage your assets, you never learn enough to DIY and make sure all the chickens are still in the henhouse.